Beacon Pointe Advisors LLC Has $3.99 Million Stock Holdings in CSX Co. (NASDAQ:CSX)

Beacon Pointe Advisors LLC trimmed its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 123,599 shares of the transportation company's stock after selling 17,938 shares during the quarter. Beacon Pointe Advisors LLC's holdings in CSX were worth $3,989,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tudor Financial Inc. bought a new position in CSX in the 3rd quarter valued at about $473,000. World Investment Advisors LLC increased its stake in CSX by 137.4% in the third quarter. World Investment Advisors LLC now owns 16,145 shares of the transportation company's stock valued at $557,000 after acquiring an additional 9,344 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in CSX by 260.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 24,970 shares of the transportation company's stock valued at $862,000 after purchasing an additional 18,049 shares in the last quarter. Tidal Investments LLC lifted its stake in CSX by 9.2% during the third quarter. Tidal Investments LLC now owns 194,760 shares of the transportation company's stock worth $6,725,000 after purchasing an additional 16,456 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of CSX by 9.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,350,289 shares of the transportation company's stock valued at $47,652,000 after purchasing an additional 113,530 shares in the last quarter. Institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.6 %

Shares of NASDAQ:CSX opened at $28.05 on Wednesday. CSX Co. has a 1 year low of $26.22 and a 1 year high of $37.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The business's 50-day moving average is $29.34 and its 200-day moving average is $32.18. The company has a market capitalization of $52.69 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities research analysts predict that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This is an increase from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, February 28th. CSX's payout ratio is 31.14%.

Wall Street Analyst Weigh In

CSX has been the subject of several recent analyst reports. Robert W. Baird dropped their price objective on CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Evercore ISI cut their target price on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, UBS Group dropped their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.86.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

Want to see what other hedge funds are holding CSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CSX Co. (NASDAQ:CSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.